Mumbai, April 27, (way2newstv.in):
HDFC Bank raised interest rates on term deposits by up to one percent. With this hike, it will offer 7% interest on all maturities in a year. As a result, senior citizens and other depositors will earn about 7.5 percent. HDFC Bank has 7.9 trillion rupees deposits ... The bank has a 7 percent stake in the deposit portfolio. State Bank of India has raised deposit rates by 50 basis points in February last year. Other banks are likely to travel on the same route. It may also affect credit rates.
HDFC INTEREST RATES ARE INCREASED HEAVILY
According to statistics released by the Reserve Bank of India (RBI), the bank deposits would be Rs. 115 lakh crores on March 28, 2018. 6.7 percent growth was recorded. In the previous fiscal, the growth rate was 15.3 percent. In contrast, Bank Advance grew by 10.3 percent to Rs 87 lakh crores. It was 8.2 percent in the previous financial year.
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